IMMOEAST Annual Report 2006/07

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210 IMMOEAST Annual Report 2006/07 Nominal value/ Remaining original credit liability as of amount in 30. April 2007 Interest rate Bank Company Currency in 1,000 *) in 1,000 *) fixed/variable Segment: CEE Country: Slovakia Weighted average interest rate: 5.28% MKB Bank Lt. IMMOEAST Projekt Jota Holding GmbH EUR 52,000.0 52,000.0 variable MKB Bank Lt. Polus a.s. EUR 61,000.0 61,000.0 variable Slovenska sporitelna a.s. Polus Tower 2 a.s. EUR 36,000.0 34,554.6 variable UniBanka a.s. SCT s.r.o. EUR 4,400.0 4,325.2 variable Segment: SEE Country: Romania Weighted average interest rate: 5.86% Alpha Bank S.C. Valero Invest s.r.l. RON 3,593.0 3,593.0 variable Bank Austria Creditanstalt AG S.C. Almera New Capital s.r.l. EUR 618.0 618.0 variable Bank Austria Creditanstalt AG S.C. Almera New Capital s.r.l. EUR 350.0 350.0 variable Bank Austria Creditanstalt AG S.C. Almera New Capital s.r.l. EUR 317.1 317.1 variable Bank Austria Creditanstalt AG S.C. Almera New Capital s.r.l. EUR 1,500.0 181.1 variable EFG Private Bank SA S.C. Meteo Business Park s.r.l. EUR 2,136.0 2,136.0 variable EFG Private Bank SA S.C. Meteo Business Park s.r.l. EUR 2,447.5 2,447.5 variable EFG Private Bank SA S.C. Stupul de Albine s.r.l. EUR 1,468.5 1,468.5 variable EFG Private Bank SA S.C. Stupul de Albine s.r.l. EUR 2,447.5 2,447.5 variable Erste Bank der oesterreichischen Sparkassen AG SC EFG Urban Achizitii s.r.l. EUR 20,000.0 20,000.0 variable Erste Bank der oesterreichischen Sparkassen AG S.C. Baneasa 6981 s.r.l. EUR 6,250.0 6,129.3 variable Erste Bank der oesterreichischen Sparkassen AG S.C. Baneasa 6981 s.r.l. EUR 2,000.0 1,243.1 variable Erste Bank der oesterreichischen Sparkassen AG S.C. Baneasa 6981 s.r.l. EUR 10,600.0 3,777.8 variable European bank for reconstruction and development IRIDE S.A. EUR 17,955.9 15,956.9 variable European bank for reconstruction and development IRIDE S.A. EUR 22,500.0 21,019.4 variable European bank for reconstruction and development IRIDE S.A. EUR 14,007.1 8,188.7 variable Hypo Real Estate Bank International AG Cora GS s.r.l. EUR 19,670.0 19,670.0 variable *) reflects stake owned The present value of the loans listed in the above table totals EUR 1,022.8 million. The present value calculation was based on the following discount rates, which reflect market interest rates as of 30 April 2007 as well as the weighted average margins of the loans held by IMMOEAST Group companies in the relevant local currencies as of the balance sheet date. Discount rates in % RON PLN CZK CHF EUR USD Up to 30 7.2007 3.521% 5.983% 4.285% 4.004% 5.600% 6.914% Up to 30 4.2008 4.249% 6.303% 4.480% 4.175% 5.892% 6.853% Up to 30 4.2010 4.475% 6.402% 4.541% 4.228% 5.983% 6.561% Up to 30 4.2012 4.501% 6.414% 4.547% 4.234% 5.993% 6.599% Up to 30 4.2014 4.553% 6.437% 4.561% 4.246% 6.014% 6.673% Up to 30 4.2017 4.709% 6.505% 4.603% 4.283% 6.077% 6.778% Up to 30 4.2022 4.942% 6.608% 4.666% 4.338% 6.170% 6.883% As of 1.5.2022 5.046% 6.654% 4.694% 4.362% 6.212% 6.930%
4.11 Trade accounts payable Thereof remaining Thereof remaining term between Thereof remaining All amounts in TEUR 30 April 2007 term under 1 year 1 and 5 years term over 5 years 30 April 2006 Trade accounts payable 106,981.1 105,086.3 1,736.5 158.3 48,693.4 Total 106,981.1 105,086.3 1,736.5 158.3 48,693.4 4.12 Provisions Additional information on this balance sheet position is provided under point 3.14. Other provisions were created primarily for taxes as well as auditing, consulting and expert opinion costs. These items developed as follows during the reporting year: Other provisions All amounts in TEUR 2006/07 2005/06 Balance on 1 May 11,206.6 2,190.4 Use -7,986.3 -1,562.6 Reversal -853.6 -1,095.1 Addition 8,990.1 8,980.8 Currency translation adjustments 286.1 310.1 Change in consolidation method 1,877.6 66.6 Change in consolidation range 630.0 2,316.4 Balance on 30 April 14,150.5 11,206.6 Thereof current 12,255.7 9,609.1 Other provisions include TEUR 3,217.7 (2005/6: TEUR 3,121.3) of provisions for taxes. 4.13 Other liabilities Additional information on this balance sheet position is provided under point 3.14. Thereof remaining Thereof remaining term between Thereof remaining All amounts in TEUR 30 April 2007 term under 1 year 1 and 5 years term over 5 years 30 April 2006 Amounts due to subsidiaries 4,648.8 0.0 0.0 4,648.8 4,528.7 Amounts due to joint ventures 27,303.5 2,345.7 970.7 23,987.0 2,696.9 Outstanding purchase prices (share deals) 38,965.6 37,399.8 1,565.8 0.0 31,332.7 Rental and lease prepayments 29,285.6 20,975.6 4,605.8 3,704.3 13,166.4 Taxation authorities (transaction taxes) 4,079.3 4,079.3 0.0 0.0 2,184.6 Taxation authorities (income taxes) 944.1 944.1 0.0 0.0 152.0 Property management 1,166.7 1,134.9 31.7 0.0 1,702.4 Construction and refurbishment 110.5 110.5 0.0 0.0 206.1 Miscellaneous 30,744.8 18,330.6 3,013.1 9,401.2 20,386.0 Total 137,248.8 85,320.5 10,187.1 41,741.3 76,355.7 Miscellaneous liabilities include TEUR 1,127.9 of liabilities owned by a fully consolidated company to a minority shareholder as well as TEUR 367.3 of derivative financial instruments. In addition, accrued interest expense on loans is also included under this item. Notes Report by the Executive Board 211 Highlights 2006/07 Business Model and Strategy Portfolio Structure Corporate Governance and Outlook Property Portfolio Development of Business Consolidated Financial Statements Service and Glossary IAS 37.84
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OF RT OF RS LG OF RT RS OF RT RS OF
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And just what does this bring you?
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Contents Report by the Executive Bo
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Dear Shareholders, The goals set by
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EBIT: +246.4% in EUR million As of
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6 5 7 Key investments In August 200
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13 In December 2006 IMMOEAST acquir
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Advance to number 2 in Continental
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Broad-based diversification of the
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PL, Katowice, Debowe Tarasy - Siles
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Prime Property: leading property de
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Management contract Asset managemen
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Outlook and strategic goals Propert
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The geographic structure of the por
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Ukraine & Russia: first direct inve
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In addition to the increased stabil
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Sector let space. Other purchases o
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Higher share of development project
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The largest single investment in th
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Sector Short-term investment of cap
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Capital Market & Development of Sha
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Strengthening of investor relations
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Corporate Governance Report Commitm
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Transactions with related parties I
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ment of independence from the audit
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Investment Programme 2007/08 Invest
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Strategic partnerships 9.0% Investm
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Subsequent Events — TriGránit Ur
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CZ-Prague Pankrác House CZ-Prague
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RO-Bucharest Pipera II RO-Bucharest
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RUS-Moscow iNi Rostokino SK-Bratisl
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The Development of Business in 2006
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3. Corporate Profile IMMOEAST is on
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Russia 15.2% Bulgaria 0.3% Slovenia
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2006/07. However, the extensive inv
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Results for 2006/07 tion of these i
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The SEE segment generated TEUR 223,
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5.2 Financial position Cash flow st
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Non-current liabilities Non-current
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The expected net operating income f
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6.1.2. Development of business in C
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Recreation/hotel properties 1.5% Re
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The development of business in Pola
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6.2 Segment SEE Overview of propert
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The development of business in Roma
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Key Data Slovenia Croatia Serbia Re
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Key data on Russia Revenues in TEUR
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Consolidated Financial Statements o
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IMMOEAST AG Consolidated income sta
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IMMOEAST AG Consolidated cash flow
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Segment reporting Report by the Exe
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CIS Segment reporting Ukraine Other
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Segment reporting C I S Transition
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IMMOEAST AG Consolidated cash flow
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CIS Segment reporting Report by the
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The principle of fair presentation
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the measurement of the cost of the
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Proportionate consolidation is a me
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Potential voting rights are to be c
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Notes IMMOEAST made the following a
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Holding A Vienna IMMOEAST Projekt B
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The following table shows the conso
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Segment CEE Location of property Po
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2.3.1.1.7 Passat Real Sp. z o.o. Th
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2.3.1.3.2 Diamant Real s.r.o. The C
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centre of Prague, is almost fully l
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The following table shows the acqui
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2.3.3 Segment South-Eastern Europe
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2.3.3.3.2 Klyos Media s.r.l. On 9 O
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2.3.3.3.5 SBACARO s.r.l. The SIBIU
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2.3.3.3.9 S.C. IE Baneasa Project s
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2.3.3.3.12 S.C. Union Investitii s.
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2.3.3.4 Regional subsegment Serbia
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2.3.4Impactofinitialconsolidations
Page 161 and 162: Segment CEE CEE CEE CEE CEE CEE Loc
Page 163 and 164: Segment CEE CEE CEE CEE CEE Locatio
Page 165 and 166: Segment CEE CIS CIS CIS CIS Locatio
Page 167 and 168: Segment SEE SEE SEE SEE SEE Locatio
Page 169 and 170: Segment SEE SEE SEE SEE SEE Locatio
Page 171 and 172: 2.3.5 Structural changes/change in
Page 173 and 174: The following exchange rates, which
Page 175 and 176: Subsequent expenditures on an intan
Page 177 and 178: 3.4 Investment property Additional
Page 179 and 180: Financing costs are capitalised in
Page 181 and 182: lessee’s interest in both land an
Page 183 and 184: 3.10.7 Limited partnership interest
Page 185 and 186: The provision is based on the best
Page 187 and 188: 4. Notes to the Balance Sheet 4.1 P
Page 189 and 190: The carrying values of properties u
Page 191 and 192: The results of the calculation are
Page 193 and 194: The first category includes land th
Page 195 and 196: All amounts in TEUR Goodwill Carryi
Page 197 and 198: 4.3.2a.8 Centre Invest Goodwill 4,0
Page 199 and 200: 4.3.2b.5 BB Centrum Building C Good
Page 201 and 202: 4.3.4 Differences arising from the
Page 203 and 204: Investments in other companies incl
Page 205 and 206: The other investments recognised at
Page 207 and 208: Thereof not impaired and due within
Page 209 and 210: 4.10 Financial liabilities Addition
Page 211: Report by the Executive Board Highl
Page 215 and 216: The corporate income tax rate in Bu
Page 217 and 218: The impairment charges to the follo
Page 219 and 220: 5.6 Other operating expenses All am
Page 221 and 222: All amounts in TEUR 2006/07 2005/06
Page 223 and 224: 7. Segment Reporting IFRS 8 Operati
Page 225 and 226: IMMOEAST is a property company that
Page 227 and 228: Segment liabilities consist of fina
Page 229 and 230: upward potential for the valuation
Page 231 and 232: The market value represents the amo
Page 233 and 234: 8.4 Transactions with related parti
Page 235 and 236: 8.4.8 Remuneration of corporate bod
Page 237 and 238: Group companies of IMMOEAST AG Nomi
Page 239 and 240: Nominal Initial Company Country Hea
Page 245 and 246: Opinion Our audit did not give rise
Page 247 and 248: Analysis of Results As of 9 October
Page 249 and 250: Analysis of Results As of 13 July 2
Page 251 and 252: Analysis of Results liabilities and
Page 253 and 254: Analysis of Results The following t
Page 255 and 256: Analysis of Results Romania reporte
Page 257 and 258: Slovakia IMMOEAST AG acquired 10% o
Page 259 and 260: Valuation Certificates Romania Valu
Page 261 and 262: Valuation Certificates Report by th
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Valuation Certificates Report by th
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Valuation Certificates Report by th
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Financial Calendar 13 September 200
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IMMOEAST Annual Report 2006/07

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